NEW YORK (TheStreet) -- Shares of FireEye (FEYE) - Get Report are soaring, sharply up 11.43% to $39.77 in midday trading Thursday, following the application software firm's better than expected fourth quarter earnings results.
The computer security company said fourth quarter revenue skyrocketed 149.7% from a year ago to $143 million, topping analysts' estimates of $141.44 million.
FireEye reported a loss of 38 cents a share for the fourth quarter, better than analysts' estimates for a loss of 49 cents a share.
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Following the earnings beat, analysts at Stifel raised its price target to $48 from $45 with a "buy" rating. Piper Jaffray also upped its price target to $45 from $50 with an "overweight" rating.
Milpitas, CA-based FireEye invented a purpose-built, virtual machine-based security platform that provides real-time, dynamic threat protection without the use of signatures to protect an organization across the primary threat vectors, including web, email, and files and across the different stages of an attack life cycle.
Separately, TheStreet Ratings team rates FIREEYE INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate FIREEYE INC (FEYE) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share and deteriorating net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: FEYE Ratings Report